Wickremesinghe will resign after an all-party government is established and the majority is secured in Parliament.
Superseding the boards of two non-banking financial companies (NBFCs) in the Srei group will neither create liquidity challenges for sound entities, nor build systemic crises because the markets have factored in the problems with the Kolkata-based firms. Such regulatory steps will help in making the NBFC space more robust, bankers and market experts said. The action should have begun earlier because the Reserve Bank of India (RBI) had done a special audit last financial year and asked the group to make provisions for assets considered stressed, analysts said.
Cabinet sub-committee to meet to review the situation and take necessary steps. Sanjay Jog reports
The President had been moved out of his residence on Friday, in anticipation of Saturday's protests.
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
The Delhi High Court on Wednesday placed Hockey India under a three-member Committee of Administrators (CoA) to run its day-to-day affairs
The government has decided to spend big on infrastructure across a wide variety of sectors to give a greater impetus to the economy which is recovering from the impact of Covid-19, Finance Minister Nirmala Sitharaman said on Monday.
Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.
India is sending a 800-plus contingent, including 572 athletes, to the Asian Games, to be held from August 18 to September 2 in the Indonesian cities of Jakarta and Palembang.
While the stress is lower than projections, it would be higher than what we saw last year because of the pandemic: Axis.
The Indian Olympics Association (IOA), on Thursday, said that it will not object to wrestler Narsingh Yadav replacing Praveen Rana in the Rio Olympics if he is cleared by NADA in an ongoing dope scandal.
In an open letter to Zee's shareholders, Invesco, which holds a 7.74 per cent stake in the firm, reiterated its demand for an overhaul of the media group's board and that it would pursue extraordinary general meeting (EGM) to oust chief executive Punit Goenka and two other directors. Last month, Sony Group Corp's India unit signed a non-binding offer to buy Zee.
Tamil Nadu's voters wanted tough leaders at the helm, to the point of being autocratic. It was what Karunanidhi, MGR and Jayalalithaa ended up becoming, observes N Sathiya Moorthy.
Saina Nehwal has claimed that her father Harvir's name has been removed from the Indian team official's list for the Commonwealth Games, leaving her frustrated just before the start of the mega event.
A day before the Tokyo-bound Indian shooting contingent hits the range for its first training session in Croatia, Manu Bhaker's pistol will give way to a pen and the shooting gear to her study materials, as she logs in for her BA fourth semester exam.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
While proper financial planning is a subject in itself, in my experience, to increase levels of financial safety and security, a person needs to avoid a few basic mistakes, says Parag Raja
Lt General Ranbir Singh described the situation in Kashmir as stable but fragile.
Trouble is brewing in the Indian camp at the Winter Olympics in Vancouver with majority of the contingent denying luger Shiva Keshavan's claim that the team didn't have coordinated uniform for the opening ceremony and rejecting the money raised by the Indian diaspora.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
oans help you achieve your financial goals, even if you do not have 100 per cent of the funds needed for it immediately.
RBI said aggregate demand during the year so far suggests that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-COVID-19 momentum.
The International Monetary Fund (IMF) said on Thursday that a multilateral response is critical to overcome the COVID-19 pandemic in India and globally as it hailed recent announcements by several countries to provide immediate support to India. India is struggling with a second wave of the pandemic with more than 300,000 daily new coronavirus cases being reported in the past few days, and hospitals are reeling under a shortage of medical oxygen and beds.
The FIIs, after being bearish on India since November 2010, turned positive post the Union Budget presentation, which largely addressed the challenges relating to growth and liquidity despite surging inflation.
Calculate his monthly expenses, health care spending, how much funds will he need once he retires, and whether his current savings and investments will enable him to manage his lifestyle through retirement, suggests Ashok Kumar E R, CEO and co-founder, Scripbox.
Few in India know that Elvis & Namrata won at the World Salsa Summit in Miami!
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
The source said logistics became a big issue for almost all the participating countries.
India can now, if required, borrow up to $30 billion a year, up from $6 billion, from the International Monetary Fund for a three-month period which can be renewed twice more in 3-month cycles.
'Everyone wants to get involved when there is success.' 'But what about guaranteeing it?' 'Making sure girls have the opportunity to succeed all the time?'
The whole idea is to have a balance between long-term and short-term goals.
The central bank is the money manager of the government, and not a guarantor of any debt.
The Indian Navy has a big role to play in support of our strategic objectives in the Indian Ocean. The increasing Chinese presence in the Indian Ocean is a matter of concern and need to be factored. Hence, the requirement of an Aircraft Carrier is a foregone conclusion, asserts Commodore Venugopal Menon (retd).
The Union home ministry and the labour ministry have asked state governments to coordinate with the chief labour commissioner's (CLC's) office to give a comprehensive data of all the migrant workers by April 11.
The Centre needs to have dialogue with the Opposition instead of letting politics come in the way; it needs to stoop to conquer, says Aditi Phadnis.
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
Follow these to secure your financial well-being and enjoy a happy and peaceful life.
In household savings, there has been a persistent shift towards physical assets.
The United States on Wednesday filed a case against China with the World Trade Organisation, alleging that the Asian powerhouse was illegally subsidising the production of wind power equipment.
